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Unknown Turkish Previous Legal Tender?

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Elokim's Avatar
Israel
17 Posts
 Posted 06/14/2014  1:17 pm Show Profile   Bookmark this topic Add Elokim to your friends list Get a Link to this Message Number of Subscribers
Can anybody tell when was this coin the currency of Turkey? A Turkish speaker told me the word "BIN" on the back side is Turkish for "Thousand" - is that so?
Its diameter is 2.8 cm, about 1.1 inches.


Unknown-Turkish-Previous-Legal-Tender?

Unknown-Turkish-Previous-Legal-Tender?
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Thailand
1509 Posts
 Posted 06/14/2014  2:08 pm  Show Profile   Bookmark this reply Add thai-vic to your friends list Get a Link to this Reply
Yes that is correct. Don't know if it is still legal tender since they revalued the Turkish lire by knocking off 6 zeroes. That would make it 0.05 of a new lire.
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Australia
16887 Posts
 Posted 06/15/2014  05:54 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
Correct, this is a 50,000 lira coin. These were issued every year from 1996 through to 2000. It was replaced with a smaller 50,000 lira coin in 2001 but remained legal tender until the transition to the "new Turkish lira" in 2005.

I believe the Turkish government gave people a one-year window to cash in their old coins after the end of the formal transition period in 2005. So although the coin has a nominal face value of 5 (new) kurus, it will no longer be accepted as such. Indeed, doing so would be foolish, since there's more than 5 kurus worth of metal in this coin.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Elokim's Avatar
Israel
17 Posts
 Posted 06/19/2014  11:27 am  Show Profile   Bookmark this reply Add Elokim to your friends list Get a Link to this Reply
Does this coin have anything to do with these old Turkish banknotes? I believe they used to be legal tender at approximately that time.



Unknown-Turkish-Previous-Legal-Tender?

Unknown-Turkish-Previous-Legal-Tender?
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Australia
16887 Posts
 Posted 06/19/2014  5:51 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
The banknotes are significantly older - they're from the 1970s, as the date on them indicates. These notes would have been long obsolete by the time the coin was issued.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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